China to Reveal How It Plans to Grow Economy Into the 2030s

China to Reveal How It Plans to Grow Economy Into the 2030s

The first glimpse into China’s economic plans for the next five and 15 years will be unveiled Thursday when initial details are released on how the country will steer growth and develop industry in the face of an antagonistic external environment.

China’s Communist Party is expected to release two policy blueprints at the end of four days of closed-door meetings in Beijing: Their usual five-year plan and a longer strategy document that stretches until 2035. Facing heightened tensions with the U.S. and a virus-battered world economy, officials in Beijing are expected to chart a course that draws on domestic resources and consumption to guarantee growth.

The party’s Central Committee — a group of some 200 top leaders — usually release a broadly worded communique that will be fleshed out in the coming weeks before approval by China’s parliament next year. The plan will focus on technological innovation, consumption, pollution control and more promises to continue opening the economy to foreign competition.